Liverpool's Joe Cole to return to West Ham with a £3m pay-off

Joe Cole celebrates after scoring for Liverpool against Young Boys in the Europa League at Anfield in November. Photograph: Andrew Yates/AFP/Getty Images

Joe Cole is set to end his unhappy spell at Liverpool by returning to his first club, West Ham United. "I'm not sure if a deal has been totally agreed. I know there have been talks," said Liverpool's manager, Brendan Rodgers.

Queens Park Rangers' manager, Harry Redknapp, who managed Cole at West Ham, said he had tried to sign the 31-year-old former England player but that the player was heading for the Hammers.

It has been reported that Cole will receive a £3m pay-off from Liverpool. His four-year contract on Merseyside is worth £92,000 a week and Liverpool said they will save about £4m by paying Cole to leave now, given that the last 18 months of his deal is worth about £7m.

If West Ham want Cole to play this weekend, he must be registered by midday on Friday. Cole left Chelsea on a free in 2010 after a successful seven-year spell but failed to make an impact at Anfield and spent last season on loan at Lille in France. The last of his 56 England caps was also in 2010.

Cole began his career at West Ham but angered fans of the east London club when moving across the capital to Chelsea after the Hammers were relegated.